PRIME Minister Ismail Sabri Yaakob said today the Financial Management and Resilience Programme (Urus) for affected borrowers in the B50 group will be set up by the banking sector soon.

Facilities to be provided include interest exemption for three months and smaller instalments for up to 24 months as well as a lower interest rate.

“During this period, customers with unsecured loans and credit card holders can also benefit from a lower interest rate to lighten their financial burden,” the prime minister said in a statement.

Urus is a comprehensive financial aid initiative that will be offered to affected borrowers from the B50 group, that is those with a gross household income of less than RM5,880 a month.

Urus is formulated by the banking industry together with Bank Negara Malaysia and the Counselling and Credit Management Agency.

More details on Urus can be obtained from the Ministry of Finance.

The initiative by the banking industry reflects the spirit of the Malaysian Family and complements the government’s efforts to help the B50 group, which also benefited from the moratorium programme and other aid packages since March 2020, the prime minister said.

He added that the government hopes that the whole-of-nation approach will help Malaysia to be prosperous, inclusive and sustainable. – Bernama, October 13, 2021.